Toyota Invests further in Etios

Monday 19 July 2010, 00:00 AM by Payal Pathak

Toyota Motor Corp is planning to expand in the Indian market. It is ready to introduce its small car model Etios by the end of this year. The company is already in the process of completing the second phase of its investments in India and its expansion plans begins with its small car launch first.

Toyota is also intending to build another manufacturing unit in India to build engines for its small car Etios. This will further make the car quite cost competitive in the Indian market. The company has already sought another 20 acres of land near its plant in Bidadi, Karnataka. Vikram Kirloskar, vice chairman, TKML and Hiroshi Nakagawa, managing director, TKML confirmed the possibility of further expansion in Bangalore.

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Toyota Kirloskar Auto Parts (TKAP), in which Toyota Motor Corporation has a 64% stake, will invest Rs 500 crore in Bidadi to set up a petrol engine and transmission manufacturing unit. the new facility will produce 100,000 petrol engines starting in the third quarter of 2012, and 240,000 transmissions a year from early 2013. Around 140,000 transmissions will be exported from India every year. The plant will employ about 500 new employees.

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